White & Case advises Magellan Capital on acquisition of majority stake in Danmarks Skibskredit

Global law firm White & Case LLP has advised UAE-based investment firm Magellan Capital on the acquisition of a majority stake in Danmarks Skibskredit (Danish Ship Finance) from Nordic private equity firm Axcel and Danish pension funds PFA and PKA, which together bought the company in 2016.

The Danish Maritime Fund will maintain its ten percent shareholding in Danish Ship Finance. Axcel will retain a five percent stake for up to two years to ensure a smooth ownership transition. Over the past eight years, Axcel, PFA and PKA have invested in Danish Ship Finance to grow its internationalization efforts and solidify its position as a premier specialized ship mortgage finance provider.

Danish Ship Finance is a Copenhagen-based financial institution providing financing for the international shipping industry. It operates with a loan book of approximately US$5 billion secured by first-priority mortgages in more than 600 vessels. It is known for ambitious strategic climate goals focused on 'accelerating the global transition of shipping towards zero emissions'.

The White & Case team which advised on the transaction was led by partners Sonia Abdul-Rahman (Dubai) and Sherief Rashed (Cairo) and included partners Abdulwahid Alulama (Abu Dhabi & Dubai), Strati Sakellariou-Witt (Brussels), Orion Berg (Paris), Martin Weber and Henning Berger (both Berlin), counsel Marika Harjula (Brussels & Helsinki), associates Sofian Dhifallah (Dubai), Nada Hussein (Cairo), Conor Magee (London) and David Schoo (Berlin).

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